James Investment Research Inc. purchased a new stake in shares of McGrath RentCorp (NASDAQ:MGRC) in the fourth quarter, HoldingsChannel.com reports. The fund purchased 36,200 shares of the financial services provider’s stock, valued at approximately $1,701,000.

Several other hedge funds also recently bought and sold shares of the company. Macquarie Group Ltd. acquired a new position in shares of McGrath RentCorp during the 3rd quarter worth approximately $121,000. SG Americas Securities LLC acquired a new position in shares of McGrath RentCorp during the 3rd quarter worth approximately $142,000. Cubist Systematic Strategies LLC acquired a new position in shares of McGrath RentCorp during the 3rd quarter worth approximately $233,000. Thrivent Financial For Lutherans acquired a new position in shares of McGrath RentCorp during the 2nd quarter worth approximately $246,000. Finally, Legal & General Group Plc raised its position in shares of McGrath RentCorp by 2.4% during the 2nd quarter. Legal & General Group Plc now owns 7,252 shares of the financial services provider’s stock worth $252,000 after purchasing an additional 172 shares during the last quarter. Institutional investors own 82.78% of the company’s stock.

McGrath RentCorp (NASDAQ MGRC) opened at $48.83 on Wednesday. The firm has a market capitalization of $1,170.00, a price-to-earnings ratio of 25.70, a price-to-earnings-growth ratio of 2.22 and a beta of 1.02. McGrath RentCorp has a twelve month low of $32.09 and a twelve month high of $50.69.

McGrath RentCorp (NASDAQ:MGRC) last issued its quarterly earnings results on Tuesday, October 31st. The financial services provider reported $0.69 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.57 by $0.12. The company had revenue of $135.39 million during the quarter, compared to the consensus estimate of $124.90 million. McGrath RentCorp had a return on equity of 16.50% and a net margin of 12.38%. McGrath RentCorp’s revenue was up 11.0% on a year-over-year basis. During the same period in the previous year, the firm posted $0.54 EPS. research analysts expect that McGrath RentCorp will post 2.04 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 31st. Shareholders of record on Wednesday, January 17th will be issued a $0.26 dividend. The ex-dividend date is Tuesday, January 16th. This represents a $1.04 annualized dividend and a yield of 2.13%. McGrath RentCorp’s dividend payout ratio (DPR) is presently 54.74%.

Several brokerages recently issued reports on MGRC. BidaskClub downgraded McGrath RentCorp from a “buy” rating to a “hold” rating in a research report on Friday, January 26th. Zacks Investment Research downgraded McGrath RentCorp from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, January 3rd. ValuEngine downgraded McGrath RentCorp from a “buy” rating to a “hold” rating in a research report on Friday, December 1st. Finally, Oppenheimer restated a “hold” rating on shares of McGrath RentCorp in a research report on Wednesday, November 1st.

In other McGrath RentCorp news, Director Dennis P. Stradford sold 3,900 shares of the business’s stock in a transaction on Thursday, November 2nd. The stock was sold at an average price of $49.41, for a total value of $192,699.00. Following the completion of the transaction, the director now directly owns 5,000 shares in the company, valued at approximately $247,050. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Keith E. Pratt sold 1,412 shares of the business’s stock in a transaction on Monday, November 13th. The shares were sold at an average price of $46.01, for a total value of $64,966.12. Following the completion of the transaction, the chief financial officer now owns 28,118 shares of the company’s stock, valued at $1,293,709.18. The disclosure for this sale can be found here. Insiders sold a total of 13,159 shares of company stock valued at $628,935 over the last quarter. 4.60% of the stock is currently owned by insiders.

ILLEGAL ACTIVITY NOTICE: “James Investment Research Inc. Takes Position in McGrath RentCorp (MGRC)” was reported by Watch List News and is the sole property of of Watch List News. If you are accessing this story on another website, it was stolen and reposted in violation of U.S. & international copyright legislation. The legal version of this story can be viewed at https://www.watchlistnews.com/james-investment-research-inc-takes-position-in-mcgrath-rentcorp-mgrc/1834189.html.

McGrath RentCorp Company Profile

McGrath RentCorp is a diversified business-to-business rental company. The Company operates through four business segments: modular building and portable storage segment (Mobile Modular); electronic test equipment segment (TRS-RenTelco); a subsidiary providing containment solutions for the storage of hazardous and non-hazardous liquids and solids segment (Adler Tanks), and a subsidiary classroom manufacturing business selling modular buildings used primarily as classrooms in California (Enviroplex).

Want to see what other hedge funds are holding MGRC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for McGrath RentCorp (NASDAQ:MGRC).

Institutional Ownership by Quarter for McGrath RentCorp (NASDAQ:MGRC)

Receive News & Ratings for McGrath RentCorp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for McGrath RentCorp and related companies with MarketBeat.com's FREE daily email newsletter.